Tether adds 9,850 Bitcoin to reserves over the past month
Crypto Briefing
Tether increased its Bitcoin reserves by 9,850 BTC over the last month, strengthening its stablecoin backing.Summary
Tether, the issuer of the USDT stablecoin, has increased its Bitcoin holdings by 9,850 BTC since late September, bringing its total reserves to approximately 87,300 BTC, valued around $8.7 billion. This accumulation involved transferring Bitcoin from Bitfinex wallets to Tether's official reserve addresses. The latest recorded transfer on November 6 involved over $97 million in Bitcoin. Tether continues this strategy of using Bitcoin reserves to hedge against market volatility and support its stablecoin infrastructure.
(Source：Crypto Briefing)